Market Awaits PPI Insights as Futures Trade Mixed
Futures Mixed as PPI Data to Kick Off a Crucial Economic Week
U.S. stock index futures showed mixed performance on Tuesday as investors awaited the producer prices index (PPI) data, which is expected to provide insights into the Federal Reserve's future interest-rate decisions. Meanwhile, Home Depot shares declined following a downward revision of its full-year profit forecast.
Current Outlook:
As long as the price remains above 39,250 and 39,130, the trend suggests an upward movement.
Bullish Scenario:
Stability above 39,250 could signal a bullish trend, with potential targets at 39,560 and 39,820.
Bearish Scenario:
The bearish outlook will be confirmed if the price stabilizes below 39,130, particularly if a 4-hour candle closes under this level, indicating a potential move toward 38,770 and 38,500.
Key Levels:
- Pivot Line: 39,350
- Resistance Levels: 39350, 39550, 39930
- Support Levels: 39250, 39130, 38780
Today's Expected Trading Range:
The price is expected to fluctuate between support at 39,130 and resistance at 39,570.
U.S. stock index futures showed mixed performance on Tuesday as investors awaited the producer prices index (PPI) data, which is expected to provide insights into the Federal Reserve's future interest-rate decisions. Meanwhile, Home Depot shares declined following a downward revision of its full-year profit forecast.
Current Outlook:
As long as the price remains above 39,250 and 39,130, the trend suggests an upward movement.
Bullish Scenario:
Stability above 39,250 could signal a bullish trend, with potential targets at 39,560 and 39,820.
Bearish Scenario:
The bearish outlook will be confirmed if the price stabilizes below 39,130, particularly if a 4-hour candle closes under this level, indicating a potential move toward 38,770 and 38,500.
Key Levels:
- Pivot Line: 39,350
- Resistance Levels: 39350, 39550, 39930
- Support Levels: 39250, 39130, 38780
Today's Expected Trading Range:
The price is expected to fluctuate between support at 39,130 and resistance at 39,570.
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